Small businesses looking to gain more government contracts could benefit from a new specialized incubator. The GovCon Incubator is a multi-layered program that provides curriculum to address every aspect of the federal government contracting process.
The Purpose Behind the GovCon Incubator
OST Global Solutions is the company behind the new GovCon incubator. OST CEO Olessia Smotrova said in an email to Small Business Trends, “We built our incubator for passionate small business owners who are searching for a smart way to build a government contracting company, and we are ready to give them the recipe and support to succeed. Our goal is to grow small businesses into a more capable government contractor force that will make a difference on projects that are vital to our nation.”
In addition to the educational aspect, the incubator also provides mentoring from in-house consultants who have collectively won more than $22 million in funded government contracts. So you can learn directly from those who have been through it already.
Federal government contracts can certainly provide a major boon to small businesses. The federal government is a potential customer with a lot of resources and money to spend. And spending on those contracts may actually increase this year, according to some early reports.
Additionally, the federal government has a goal of awarding 23 percent of prime contracts to small businesses. And there are also some set-asides for specific types of small businesses, like women and minority owned companies. The government doesn’t always meet these goals. And part of it is likely due to some small businesses being unprepared for the demands of government contracting.
So even though securing government contracts might seem like a lofty goal, it’s an attainable one as long as you have the knowledge and resources to put a plan in place.
If you’re interested in competing for those coveted contracts, any resources you can get your hands on to actually learn about the process can give you a leg up on the competition.
Image: OST Global Solutions